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Quidel Corp Sells Summers Ridge Bldgs in Sale-Leaseback

Alexandria Real Estate Equities Pays $149M for Industrial, Flex Properties
January 29, 2018
Quidel Corporation has sold its four buildings at 9965-9995 Summers Ridge Rd. in San Diego, CA for $148.65 million to Alexandria Real Estate Equities, Inc.

The campus is currently improved with three industrial buildings and one flex property totaling more than 247,000 square feet. The sale also included a future development opportunity for an additional 50,000-square-foot building.

The seller has leased back two of the buildings for approximately 15 more years from the new ownership group.

Both parties handled the direct sale-leaseback deal in-house.

Please see CoStar COMPS #4099697 for more information on the transaction.
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